*NEWS*C.E. DENIES STAPLES TAKEOVER RUMORS

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*NEWS*C.E. DENIES STAPLES TAKEOVER RUMORS

 user 2008-02-07 at 5:23:00 pm Views: 40
  • #19709


    CE denies Staples takeover rumours


    February 2008 – Amsterdam, NetherlandsShares in Corporate Express rose
    by around 40 percent at one point today after reports in the Dutch press
    that Staples was in talks to buy the Netherlands-based contract
    stationer.The share price fell back after Corporate Express denied the
    rumours in a statement in which it “noted rumours in a Dutch morning
    paper regarding ongoing discussions between Corporate Express and
    Staples about a take-over and the subsequent market reaction” and
    confirmed that “such discussions are not taking place”.This is the
    second time in a matter of months that such rumours have surfaced, with
    militant hedge fund shareholder Centaurus believed to favour a sell-off,
    even though the company announced a stand-alone strategy in October
    under new CEO Peter Ventress.The picture may become clearer after
    Corporate Express’ annual results are announced on Thursday.